Rate the 1987 Wall Street movie /10
Also did you start slinging crack rock because you don't have a wicked jump shot?
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05-31-2015, 07:34 PM #61
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05-31-2015, 07:46 PM #62
Fuarkk kind of in the same boat minus all the nice certifications. Dun guf'd by majoring in criminal justice, but had a 3.9 GPA. Still have no related work experience(worked as a research assistant and interned with a top law enforcement organization, don't want to say here though, but nothing finance related), stayed in my same school (a tiny unknown school) to get my MBA with a finance concentration, I should be graduating next May. How can I make it? Perhaps I can pm you?
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05-31-2015, 07:50 PM #63
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05-31-2015, 07:59 PM #64
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05-31-2015, 08:01 PM #65
- Join Date: Sep 2008
- Location: New York, New York, United States
- Posts: 5,241
- Rep Power: 5880
Where and in what role are you interning this summer(feel free to be vague)? That is assuming you are in a FT program. Hopefully, it is finance related so you can attempt to parlay this experience for FT recruiting in the Fall. You are going to have to hit the ground running hard and start networking with any alumni from your school that are in banking towards the end of your summer -- basically letting them know that corporate finance at Amazon(or wherever you are at) isn't for you and why this experience led you to believe that banking is what you really want to do.
I will be completely honest with you in that it is highly unlikely you will get some type of FT offer in investment banking coming from an unknown school and no summer associate role in IB.
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05-31-2015, 08:06 PM #66
I wasn't even able to get an internship for the summer, only landed 2 interviews and wasn't selected for either.. So Im doing what I've bee doing for the past 7 years
I work as a caddy so I'm trying to network hardcore, there's obviously a tricky line not to cross when asking members for help. I've been messaging alumni on Linkedin as well, but considering how tiny my school is, I can count on one hand the amount of ppl on Linkedin from my school who are in banking...
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05-31-2015, 08:09 PM #67
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05-31-2015, 08:19 PM #68
I start an IB internship tomorrow for a boutique bank. As you said, mostly M&A type deals. Any advice brah?
Also, this f**cker said this about a year ago in an earlier thread when I said some of my career goals:
I was going to neg him after signing my offer for IB but decided victory was already sweet enough.Last edited by workhard9; 05-31-2015 at 08:25 PM.
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05-31-2015, 08:20 PM #69
I worked for a BB firm in equity research. You can find out more information on WSO, the information ITT is poverty.
This thread is pretty deceptive in "lifting the lid" on IB. Most peoples' idea of it is correct and this thread only serves to muddy the truth by overcomplicating day to day life.
It's an office job doing lots of boring work for long hours. And the comp is not that great - or not as great as you would think. I was on 50k - like 70-80 USD straight out of uni. But that was 8am-7pm hours with all nighters for a few nights once or twice a month. Mostly it's playing around with Excel and Powerpoint. It's tedious.
The hours are not *that* long, but given you commute in and out...you pretty much have no life during the week, same as any other office job. Pretty much the same hours as law firms except law firms don't usually have all nighters unless you're in corporate. And law firms start at around 9am.
Most people are equally as tedious as the work. No one normal and clever would stay for the long run, it's just meant to provide good exit options to other things. If you're so inclined, you can have a good career in finance, but most interesting people become entrepreneurs one way or another.
You can make money in almost anything if you become good at it eventually - law and banking just pay a lot straight away, but going into another sector like media production, publishing or property, you could make the same money or more in time. When you're young, you don't have any commitments like children anyway.
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05-31-2015, 08:26 PM #70
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05-31-2015, 08:43 PM #71
- Join Date: Dec 2014
- Location: United Kingdom (Great Britain)
- Age: 31
- Posts: 4,107
- Rep Power: 11074
Seem interested, ask questions, get around and talk to the entirety of the team, do the work to the best of your ability, if you get asked to any social events then go regardless of if you have other stuff planned, don't use your holiday time if you have any, dress smart but don't be the intern wearing a rolex and a $4,000 dollar suit.
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05-31-2015, 08:54 PM #72
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05-31-2015, 08:56 PM #73
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05-31-2015, 08:56 PM #74
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05-31-2015, 09:08 PM #75
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05-31-2015, 09:11 PM #76
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05-31-2015, 09:14 PM #77
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05-31-2015, 09:15 PM #78
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05-31-2015, 09:18 PM #79
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05-31-2015, 09:20 PM #80
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05-31-2015, 09:29 PM #81
No worries. If you would take the part out where you talk about my next job, that'd be cool.
That's interesting. Do you guys have a mandate to return capital to LPs? How do you monetize your investments? Just harvest the excess cash flow from portfolio companies and return it to the GPs and LPs every quarter?I am posting from my iPhone, please do not hold my grammar and spelling against me.
Asked to be banned until September.
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05-31-2015, 09:34 PM #82
Our investors (not technically LP's as we operate through LLC's) are all HNW individuals. We invest in each deal on an individual basis so our investors can choose what to invest in and build their own individualized portfolio. We have no liquidity pressure because we pay down the debt and cash flow dividends to our investors. Then of course if we choose to sell they'll get a return on the sale. Our average holding period is like 5-15 years.
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05-31-2015, 09:36 PM #83
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05-31-2015, 09:41 PM #84
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05-31-2015, 09:46 PM #85
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05-31-2015, 09:47 PM #86
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05-31-2015, 09:49 PM #87
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05-31-2015, 09:53 PM #88
You're probably familiar with the pledge fund model, but that isn't exactly what we do, either. We're more akin to a group family office that only does LBO's, if that makes any sense. Unlike pledge funds, we don't really have any capital commitments from our investors, and we're going to the same investor network for every deal. We typically can raise the funds for a deal in a couple weeks without any problems, because we understand our investors' appetite to fund and also have some wealthier individuals who are very flexible with how much they fund.
A typical day is, well, there isn't really a typical day. Since I've been here we did do one deal that I was working on a lot, but we just closed it. I'll go to the board meetings, prepare financials, work with the senior management on business issues, review CIM's, network, do administrative work, etc. I also manage a small internal debt fund that I helped them found. I always have something to do, but my bosses are extremely laid back and I don't work long hours at all. We typically pay 3-5x EBITDA but are also value investors so unless the sale situation is amenable to our niche (buying from owner-operators who want to pass the business on to a seasoned management team and want someone that will back them long term and provide greater opportunity for ownership) we aren't competitive on price.
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05-31-2015, 09:55 PM #89
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05-31-2015, 09:58 PM #90
- Join Date: Dec 2014
- Location: United Kingdom (Great Britain)
- Age: 31
- Posts: 4,107
- Rep Power: 11074
You aren't going to have a chance of Front Office with an accounting degree with no experience unless you are at the very top target unis with some stellar extra curriculars. You need an internship to appear like you actually give a **** and haven't got to the end of your degree and thought "fuk, lets go for IB since there is $$$."
Doing an internship would also allow you to see if it is something that you would fit with.
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